Written Commentary
Livestock AM Outlook
China has suspended poultry imports from second U.S. plant over COVID-19. China has suspended on last count 9 beef, pork and poultry plants in Brazil and Argentina. For the first half of 2020 China doubled the pork it bought in 2020 compared to previous 2019.
Cattle futures higher Tuesday with talk feedlots asking higher by $2.00 to $3.00 more than last week from $104 to $106.00. Showlists again this week are light which is odd because several analysts claimed feedlots last week had overweight cattle and too many cattle.
Tuesday pork carcass started out 6.64 higher with big gains on all primal cuts with loins up 5.78, hams 7.76 higher and bellies leaping 15.63 higher. Movement was moderate. Bellies were just up what they had lost Monday afternoon and loins gained $3 plus after Monday’s losses.
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